Share Repurchase Program

6 Months Ended

Jun. 30, 2014

Share Repurchase Program

In 2008, the Board of Directors authorized a share repurchase program of up to 3,000 shares of the Company’s common stock with no established end date. The program allows for repurchases to be made in the open market or through negotiated transactions from time to time. At June 30, 2014, 2,900 shares remained available for future stock repurchases under this repurchase program. The shares of common stock purchased under the share repurchase program are being retired.

The Company did not repurchase any shares of its common stock during the three and six month periods ended June 30, 2013. The following table summarizes the Company’s stock repurchases for the three and six month periods ended June 30, 2014:



	Three and Six Months Ended
	June 30, 2014
Shares of common stock repurchased	100
Cost of stock repurchased		$986
Average price paid per share		$9.86